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Technology Stocks : Internet Guru Discussion

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To: CathyC who wrote (509)	3/8/1999 2:47:00 PM
From: gizelle otero	of 4337

Please-opinion on GMIA; they do internet auctions, up over 10% today. The beef on them has always been that they were short on cash, but I now see them listed on the "largest insider purchases" screen at Microsoft Investor's Web Site. Looks like they just bagged $10 million from a Spanish firm that paid over $10.00 a share for about 1 million shares of the stock. There is a super-low float of less than 2 million shares, and insiders seem to own over 50% of the stock and be buying more. Could an established auction house like Greg Manning convert successfully to the internet model? How far fetched is this? They are profitable, so I guess that counts against them in today's market. Thanks.

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